SmartFinancial, Inc. (NASDAQ:SMBK) Receives $29.50 Consensus Price Target from Analysts

Shares of SmartFinancial, Inc. (NASDAQ:SMBK - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five research firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $29.50.

Several equities research analysts have recently commented on SMBK shares. Raymond James increased their price objective on SmartFinancial from $32.00 to $36.00 and gave the company a "strong-buy" rating in a report on Wednesday, October 23rd. Hovde Group lifted their price objective on shares of SmartFinancial from $28.00 to $32.50 and gave the company a "market perform" rating in a research report on Wednesday, October 23rd. Stephens reaffirmed an "overweight" rating and issued a $27.00 target price on shares of SmartFinancial in a report on Tuesday, July 23rd. Finally, Piper Sandler downgraded shares of SmartFinancial from an "overweight" rating to a "neutral" rating and raised their target price for the company from $26.00 to $28.00 in a research note on Wednesday, July 24th.

Hedge Funds Weigh In On SmartFinancial

Several institutional investors and hedge funds have recently made changes to their positions in SMBK. Huntington National Bank increased its position in SmartFinancial by 5,269.2% during the third quarter. Huntington National Bank now owns 1,396 shares of the bank's stock worth $41,000 after acquiring an additional 1,370 shares during the period. SG Americas Securities LLC acquired a new stake in shares of SmartFinancial in the third quarter valued at approximately $161,000. CAP Partners LLC acquired a new stake in shares of SmartFinancial in the third quarter valued at approximately $230,000. Acadian Asset Management LLC bought a new stake in shares of SmartFinancial in the first quarter valued at approximately $271,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in SmartFinancial during the third quarter worth approximately $334,000. Institutional investors and hedge funds own 58.78% of the company's stock.

SmartFinancial Stock Up 1.4 %

SMBK stock traded up $0.51 during midday trading on Friday, hitting $36.14. The company's stock had a trading volume of 49,068 shares, compared to its average volume of 70,796. The company's fifty day moving average price is $30.36 and its 200 day moving average price is $26.57. SmartFinancial has a twelve month low of $19.00 and a twelve month high of $37.72. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $611.49 million, a P/E ratio of 18.63 and a beta of 0.67.

SmartFinancial (NASDAQ:SMBK - Get Free Report) last released its earnings results on Monday, October 21st. The bank reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. SmartFinancial had a return on equity of 6.90% and a net margin of 11.88%. The business had revenue of $73.10 million for the quarter, compared to analyst estimates of $42.32 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. As a group, equities research analysts predict that SmartFinancial will post 2.03 EPS for the current year.

SmartFinancial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.32 annualized dividend and a yield of 0.89%. SmartFinancial's dividend payout ratio (DPR) is presently 16.49%.

About SmartFinancial

SmartFinancial, Inc operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, and Florida. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, Leases, and Consumer and Other segments.